Macroeconomics  |  March 06, 2013 08:15:00

Intraday Analysis of AUD / USD Australian economy and strengthening The Australian economy grew by a very good export growth in GDP in the last quarter of 2012. In mezikvartálním measurements we saw 0.6 percentage improvement compared to the third quarter, which after review rose by 0.7 percent. Total production was 3.1 percent higher than in the last quarter of 2011. Australia's central bank (RBA) yesterday missed the chance to cut interest rates and kept unchanged 3.0 percent. Justify the reduction in the previous year by 125 basis points and also stating that the effects of rate cuts only take place throughout the economy.

Australia is doing well and even on-year comparison defeated his allies richer when the Australian economy grew annually by 3.1 percent, which is an excellent result compared to the U.S. (1.6), Canada (1.1 percent) or EU (- 0.9 percent). Production in 2012 reached 1.5 trillion Australian dollars, or $ 64,700 per Australian. Compared with America, which reached only $ 50,300 per American, this is a great result.

The principal reason is the growing success of Australian exports. Country is doing mainly export iron ore and natural gas. Net exports (exports minus imports) has increased in the last quarter by 0.6 percent and contributed the most to GDP over the last four years. Australian households increased their spending by 0.2 percent in the fourth quarter and significantly contributed to the expansion. Household spending accounts for about 54 percent of GDP.

Currency pair AUD / USD has strengthened after the results of GDP. He managed to break above resistance 1.0265 and is currently trading above the declining trend channel. AUD / USD has recently found itself in a bear market and it will be important as you cope with today's trend of strengthening. In terms of interpretation of oscillators that are in overbought areas, we could not wait weakening. During today's session will be necessary to monitor the response rates to the level 1.0265, which will tell more about further developments.

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